Assume there is a lease agreement for 6 years for a shop with a built-in escalation clause at the rate of 20 per cent after 3 years. The lease expires on a specified date say, March 31, 2000 and the concerned landlord has sent a written letter asking to pIt is always advisable to make a new agreement with the landlord.
08 Dec 2008
Yes. It is sufficient but not fool proof. The rights won't be affected as long as enhanced rent is paid. It also depends on the period/tenure prescribed in the letter. It is always advisable to make a new agreement with the landlord.
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